Old Information

Sometimes credit information is too old to give a good picture of your
financial reputation. There is a limit on how long certain information
may be kept in your file:

Bankruptcies must not be reported after 10 years. However, information
about any bankruptcies at any time may be reported if you apply for
life insurance with a face value over $150,000, for a job paying $75,000
or more, or for credit with a principal amount of $150,000 or more.

Suits and judgments paid, tax liens, and most other kinds of unfavorable
information must not be reported after 7 years.

Your credit record may not be given to anyone who does not have a legitimate
business need for it. Stores to which you are applying for credit may
examine your record; curious neighbors may not. Prospective employers
may examine your record with your permission.